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As energy cooperation between China and Africa steps up, China's advanced technology in the renewables sector is more pragmatic in Africa, and there is much more potential for cooperation in the future, he said.

As a key subsidiary of China Construction First Group Co Ltd, a central State-owned construction enterprise, the company has been adjusting its business layout proactively in the past few years to meet new development demands, and has made real estate and infrastructure the two cores of its business, supported by overseas business, and investment and financing.

As a result, new applicants for the EV licenses will have to wait for 7 years for another round of allocations.

As a strategic investment in Axalta's growth, the new facility provides customers in West China with greater access to advanced coating technologies and value-added services.

As explained by Xie Lei, COO of Carl Zeiss (Shanghai) Co Ltd, the company originally had to first import goods into China and then export them to third-party countries. But now, once the China-based unit receives an order, the German headquarters can directly deliver products to clients outside China. The China enterprise only needs to submit verification documents and relevant reports to the management committee of the Shanghai FTZ.